Built in 1960, the mall in recent years has faced an uncertain future.
4600 Jonestown Road LLC, a Pennsylvania liability company, purchased the mall this month from Kohan Retail Investment Group, for $8.8 million,The company lists Zi Qian Zhang of Fall River, Massachusetts, as its owner. Zhang, owner of JZ Real Estate, has been a real estate professional for more than three decades,The sale includes the mall’s main building, but not Boscov’s, the former Sears building, and five other buildings on the property not owned by Kohan Retail.
The mall has around 30 tenants. It has seen a long list of retailers and other businesses depart the facility in recent years. This year, Earlier this summer, it appeared the mall would be auctioned off, but a listing was abruptly withdrawn a day before the auction was to take place.Maryland developer Stonewall Capital terminated its sales agreement
Lower Paxton Township stepped up to facilitate development at the mall by rezoning the site “Towne Center,” a designation that allows for residential, commercial, cultural, institutional and entertainment uses. What the new owner plans to do with the mall is not known. Zhang has shifted his focus to the development and operation of about 20 trampoline parks along the East Coast,Lower Paxton Township spokesman Jack Sherzer said the township looks forward to working with the new owner. So far, he said no plans for the property have been submitted to the township.If you purchase a product or register for an account through a link on our site, we may receive compensation.
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